Blue Ocean Acquisition Corp. (NASDAQ:BOCN) Sees Large Drop in Short Interest

Blue Ocean Acquisition Corp. (NASDAQ:BOCN) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 100 shares, a drop of 85.7% from the September 30th total of 700 shares. Based on an average daily volume of 7,900 shares, the short-interest ratio is currently 0.0 days.

Blue Ocean Acquisition Price Performance

BOCN stock remained flat at $11.47 during mid-day trading on Friday. 71,109 shares of the company’s stock traded hands, compared to its average volume of 38,451. The business has a fifty day simple moving average of $11.42 and a 200 day simple moving average of $11.25. Blue Ocean Acquisition has a 1 year low of $10.73 and a 1 year high of $11.70.

Institutional Investors Weigh In On Blue Ocean Acquisition

An institutional investor recently raised its position in Blue Ocean Acquisition stock. Berkley W R Corp grew its stake in shares of Blue Ocean Acquisition Corp. (NASDAQ:BOCN) by 83.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 548,805 shares of the company’s stock after acquiring an additional 249,576 shares during the period. Berkley W R Corp owned 8.91% of Blue Ocean Acquisition worth $6,064,000 at the end of the most recent quarter.

Blue Ocean Acquisition Company Profile

Blue Ocean Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company intends to focus within the consumer Internet sector in segments, such as online marketplaces, education and advertising technology, and direct-to-consumer e-commerce businesses in Asia, Latin America, and North America.